SAN DIEGO & NEW YORK--(BUSINESS WIRE)--Tang Capital Partners, LP and Perceptive Life Sciences Master Fund Ltd. today announced that, based on voting estimates from their proxy solicitation firm, shareholders have elected all three of their nominees, Roderick Wong, M.D., Saiid Zarrabian and John G. Lemkey, as new directors of Penwest Pharmaceuticals Co. (NASDAQ:PPCO).